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Tag: U.S. Democratic Party

  • Republican ex-Rep. Adam Kinzinger: Trump ‘suffocated the soul of’ the GOP

    Republican ex-Rep. Adam Kinzinger: Trump ‘suffocated the soul of’ the GOP

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    Former Republican Rep. Adam Kinzinger in his Democratic National Convention speech that “Donald Trump has suffocated the soul of the Republican Party,” endorsing Democrat Kamala Harris for president.

    “His fundamental weakness has coursed through my party like an illness, sapping our strength, softening our spine, whipping us into a fever that has untethered us from our values,” he said.

    Kinzinger, who represented Illinois in Congress from 2011 to 2023, directed his speech not to the Democrats in Chicago’s United Center Thursday night, but to members of his own party.

    “I’ve learned something about the Democratic Party, and I want to let my fellow Republicans in on the secret,” he said. “The Democrats are as patriotic as us. They love this country just as much as we do. And they are as eager to defend American values at home and abroad as we conservatives have ever been.”

    “I’ve learned something about my party, too. Something I couldn’t ignore,” he continued. “The Republican Party is no longer conservative. It has switched its allegiance. From the principles that gave it purpose, to a man whose only purpose is himself.”

    Kinzinger, who in his speech said he “still hold[s] onto the label” of Republican, was a Trump critic before the Jan. 6 attack on the U.S. Capitol.

    In the wake of the violent insurrection, Kinzinger was one of only ten Republicans to vote to impeach Trump in the former president’s second impeachment trial.

    Kinzinger also voted to create, and then sat on, the select committee to investigate the Jan. 6 riot. He and former Rep. Liz Cheney were the only Republicans on the committee.

    U.S. Representative Adam Kinzinger (R-IL) speaks next to chairman U.S. Representative Bennie Thompson (D-MS) during the fifth of eight planned public hearings of the U.S. House Select Committee to investigate the January 6 Attack on the U.S. Capitol, on Capitol Hill in Washington, U.S. June 23, 2022. 

    Jonathan Ernst | Reuters

    “Our democracy was frayed by the events of January 6th, as Donald Trump’s deceit and dishonor led to a siege on the United States Capitol,” he said. “How can a party claim to be patriotic if it idolizes a man who tried to overthrow a free and fair election?”

    Kinzinger, who in June endorsed Democrat Joe Biden before the president dropped his bid for reelection, was not the first Republican to speak at this year’s Democratic convention.

    Several former Trump voters and staffers spoke at the DNC this week, endorsing Harris in an effort to convince their fellow Republicans to vote against their party and its leader.

    “Democracy knows no party,” Kinzinger said. “It is a living, breathing ideal that defines us as a nation. It is the bedrock that separates us from tyranny — and when that foundation is fractured, we must all stand united to strengthen it.”

    “If you think those principles are worth defending, I urge you: Make the right choice. Vote for our bedrock values. Vote for Kamala Harris.”

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  • JD Vance has long been on a quest to encourage more births in the United States

    JD Vance has long been on a quest to encourage more births in the United States

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    MIAMI (AP) — Five summers ago, Donald Trump’s running mate JD Vance — then a 34-year-old memoirist and father of a 2-year-old boy — took the stage at a conservative conference and tackled an issue that would become a core part of his political brand: the United States’ declining fertility rate.

    “Our people aren’t having enough children to replace themselves. That should bother us,” Vance told the gathering in Washington. He outlined the obvious concern that Social Security depends on younger workers’ contributions and then said, “We want babies not just because they are economically useful. We want more babies because children are good. And we believe children are good, because we are not sociopaths.”

    Vance repeatedly expressed alarm about declining birth rates as he launched his political career in 2021 with a bid for the U.S. Senate in Ohio. His criticism then of Vice President Kamala Harris, now the Democratic presidential nominee, and other high-profile Democrats as “childless cat ladies” who didn’t have a “direct stake” in the country have drawn particular attention since Trump picked him as his running mate.

    The rhetoric could threaten the Republican ticket’s standing with women who could help decide the November election. But it’s delighted those in the pro-natalist movement that has, until now, been limited largely to policy wonks, tech executives and venture capitalists.

    “There’s no question the discussion around family life, childbearing and pronatalism has gotten a lot more popular and gotten media attention because of JD Vance,” said Brad Wilcox, the director of the National Marriage Project at the University of Virginia and author of “Get Married.” Vance once referred to Wilcox as “one of my favorite researchers.”

    Vance’s spokespeople did not respond to messages seeking comment.

    An aspiring politician’s war against ‘anti-child ideology’

    Vance, who wrote a bestseller about his working-class upbringing, has been clear about making family formation a policy priority. He has suggested ideas such as allowing parents to vote on behalf of their children or following the example of Hungary’s Viktor Orbán of giving low-interest loans to married couples with children and tax exemptions to women who have four children or more.

    In a May 2021 interview with The Federalist’s podcast in which he said he was exploring a Senate run, Vance described a society without babies and kids as “pretty icky and pretty gross.”

    “We owe something to our country. We owe something to our future. The best way to invest in it is to ensure the next generation actually exists,” he said. “I think we have to go to war against the anti-child ideology that exists in our country.”

    Vance has suggested people without children should pay higher taxes than people who have children. That’s the spirit of the existing child tax credit at $2,000 per qualifying child, which Vance has said he’d love to see raised to $5,000. He has also mentioned in interviews he wants to ban pornography for minors, citing it as one of the causes for why people are marrying less and having fewer children.

    His anti-abortion views, he has said, are separate from his concerns on birth rates, arguing the procedure is not really driving the decline in fertility.

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    In several interviews, he’s argued policymakers should make it easier for two-parent households to be able to live on a single wage so that one of the parents can stay home with their children.

    “The ruling class is obsessed with their jobs. Even though they hate a lot of their jobs, they are obsessed with their credentials and they want strangers to raise their kids,” he told then-Fox News host Tucker Carlson in 2021. “But middle-class Americans, whatever their station in life, they want more time with their children.”

    Vance had a chaotic childhood raised mainly by his grandparents in southwestern Ohio and a mother who battled substance abuse, and her “revolving door of father figures” as he described in his book. He is now married to a trial lawyer he met at Yale Law School. The couple has three young children, who he has said attend preschool. Usha Vance left the law firm where she worked shortly after her husband was chosen as Trump’s running mate.

    Declining births in an aging America

    The U.S. was one of only a few developed countries with a fertility rate that ensured each generation had enough children to replace itself — about 2.1 kids per woman. But the number has been sliding since 2008 and in 2023 dropped to about 1.6, the lowest rate on record.

    Earlier this year, Vance cited fertility rates in arguing against American support for Ukraine.

    “Not a single country — even the U.S. — within the NATO alliance has birth rates at replacement level. We don’t have enough families and children to continue as a nation, and yet we’re talking about problems 6,000 miles away,” he said.

    Vance as well as researchers and experts on the pro-natalist movement also argue that immigrants can’t provide a long-term fix to the decline in birth rates. He has separately blamed immigrants for crime and creating “inter-ethnic conflict.”

    Demographers and other experts for years had predicted declining fertility rates would pose challenges for the Social Security system as fewer workers are supporting a growing aging population.

    Tech executives such as Tesla CEO Elon Musk and venture capitalist Peter Thiel, who donated millions for Vance’s primary race, have also been vocal about the decline in birth rates.

    “We as a nation, as a society, policymakers can’t be neutral on the question of family,” said Oren Cass, who founded a conservative think tank, American Compass, that is closely aligned with the senator.

    Cass, a former policy adviser for U.S. Sen. Mitt Romney, said he has known Vance for a decade and partnered on several events but said he was not speaking on behalf of the vice presidential nominee. He criticized how progressives have celebrated what he described as a culture of “you do you” and “all choices are equally valid,” when he considered the work of forming a family and raising children an “indispensable foundation” for the country.

    “That’s not to say, obviously, that you mandate or criminalize the alternative, but it is to say that we shouldn’t be neutral about it,” he said.

    Vance on the defense

    Vance’s views on birth rates have contributed to his rocky rollout as Trump’s running mate. Democrats went from labeling Trump and his Republican allies as a collective “threat to democracy” to calling both men “weird,” a strategy that coincided with Vance’s comments coming to light.

    Other unlikely critics have also piled on. Trump-backing influencer Dave Portnoy said Vance “sounds like a moron.” Former Republican congressman Trey Gowdy tried unsuccessfully to force an apology out of Vance for his denigrating of childless women on his Fox News show, introducing him with a story about a pair of Catholic nuns he met at an airport.

    Actress Jennifer Aniston, who has been open about her fertility issues, weighed in by saying she hopes Vance’s daughter does not face the same problems and she “truly can’t believe that this is coming from a potential VP of the United States.” Vance responded by calling her Instagram reaction “disgusting.”

    Trump has come to his defense, accusing Democrats of spinning things and expressing empathy for people who don’t get married or have children and are “every bit as good.”

    “He likes family. I think a lot of people like family. And sometimes it doesn’t work out,” Trump said in one interview. “But you’re just as good, in many cases a lot better than a person that’s in a family situation.”

    Vance’s wife has also tried to do some damage control, saying Vance was not referring to those who struggle with fertility or can’t get pregnant for medical reasons, though the ideas he proposes don’t make that distinction.

    “The reality is he made a quip in service of making a point he wanted to make that was substantive,” Usha Vance told an interviewer on “Fox and Friends.”

    Can Vance advance this?

    Wilcox, the author of “Get Married,” said JD Vance now needs to focus on convincing a broader audience that his ideas are worth pursuing.

    “The challenge for JD Vance is taking that attention and translating it into more of a concrete policy agenda that would be compelling to ordinary Americans and articulating a clear and positive agenda around making family formation both more affordable and more appealing,” Wilcox said.

    Supporters at a recent Trump rally in Harrisburg, Pennsylvania, shrugged off Vance’s assertion that parents should have more of a vote than childless adults and expressed complicated feelings about his views.

    Kenneth “Nemo” Niemann, 70, said Vance might be speaking figuratively about giving parents more votes. His wife, Carol, 65, disagreed, saying Vance has been crystal clear that that is exactly what he means.

    The Niemanns had children later in life — their twins are 16 — and they spent far more of their adult lives as childless adults. And while they talked about how adults with children can have more to say when it comes to policies affecting children or they can have a different worldview about the future than childless adults, they still disagreed with Vance.

    “My sister never had children, but I can’t imagine my vote means more than hers,” Carol Niemann said.

    ___

    Associated Press writers Michelle R. Smith in Providence, Rhode Island, Mike Schneider in Orlando and Marc Levy in Harrisburg, Pennsylvania, as well as Associated Press researcher Jennifer Farrar in New York, contributed to this report.

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  • St. Louis lawyer David Wasinger wins GOP primary for Missouri lieutenant governor

    St. Louis lawyer David Wasinger wins GOP primary for Missouri lieutenant governor

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    JEFFERSON CITY, Mo. (AP) — St. Louis lawyer David Wasinger has won the Republican primary for Missouri lieutenant governor, defeating state Sen. Lincoln Hough by slim margins.

    “Missourians want change,” Wasinger told KCUR public radio. “I’ll use the lieutenant governor’s office as a bully pulpit to expose the corruption and insider deals taking place in Jefferson City.”

    Wasinger is favored to win the November general election against Democratic nominee state Rep. Richard Brown in the heavily GOP state where no Democrats currently serve in any statewide office.

    Wasinger, a certified public accountant, previously campaigned for state auditor in 2018 but lost the Republican primary.

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  • Kansas’ former attorney general wins the Republican nomination for an open congressional seat

    Kansas’ former attorney general wins the Republican nomination for an open congressional seat

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    TOPEKA, Kan. (AP) — A former Kansas attorney general and failed candidate for governor has found at least initial success in his political comeback attempt, winning Tuesday’s Republican primary for an open U.S. House seat.

    Former Kansas Attorney General Derek Schmidt prevailed in the primary in the 2nd District of eastern Kansas over Jeff Kahrs, a former top regional federal health official, and Shawn Tiffany, a rancher. Even though Kahrs worked in former President Donald Trump’s administration, Schmidt won Trump’s endorsement.

    In the Democratic primary, former U.S. Rep. Nancy Boyda, who held the 2nd District seat in 2007 and 2008, defeated Matt Kleinmann, a public health advocate who was a member of the 2008 national champion University of Kansas men’s basketball team.

    Boyda won the nomination even though she riled up some party activists by positioning herself toward the political center for what she saw as a more viable general election campaign in the Republican-leaning district. She lost her 2008 race for reelection.

    Messages seeking comment were left with both Boyda and Kleinmann.

    The district’s two-term GOP incumbent Jake LaTurner was not seeking reelection.

    Boyda was the last Democrat to represent eastern Kansas in Congress, and the district became redder after the GOP-controlled Legislature redrew it two years ago. Schmidt, who is also a former state senator, raised the most money of any candidate, more than $616,000, including more than $119,000 since mid-July alone, according to campaign finance reports.

    “America needs more effective, conservative voices in public service,” Schmidt said in a statement. “I will continue to prioritize securing our border, stopping inflation, and rolling back big government’s overregulation and over-taxation of our daily lives.”

    Schmidt narrowly lost the governor’s race in 2022 to Democratic Gov. Laura Kelly, and even though he embraced conservative causes in his three terms as attorney general, he continued to face criticism from the right. Kahrs suggested in mailings that he was not tough enough on illegal immigration, for example.

    Besides Trump, Schmidt had the backing of Americans for Prosperity. Part of the political network of billionaire Wichita businessman Charles Koch and his family, the group can mobilize scores of low-tax, small-government activists in Kansas.

    “Kansas voters, once again, saw through the political attacks and made the right choice,” said Liz Patton, the group’s senior Kansas adviser said in a statement.

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    Republican voters were also settling contested primaries in two other districts where incumbents are seeking reelection.

    In the 1st District, which includes western Kansas, two-term U.S. Rep. Tracey Mann prevailed easily over Eric Bloom, a farmer and real estate investor. Mann’s Democratic opponent in November is Paul Buskirk, an academic counselor and adviser for student athletes at the University of Kansas. It’s considered a safe Republican seat.

    In the Kansas City-area 3rd District, Dr. Prasanth Reddy, an oncology and internal medicine specialist, defeated small business owner Karen Crnkovich for the right to challenge three-term U.S. Rep. Sharice Davids, the only Democrat in the state’s congressional delegation. Davids made headlines with her 2018 election as a lesbian, Native American and former mixed martial arts fighter.

    There also were contested primaries in some of the 40 state Senate and 125 state House districts, and for offices in Kansas’ 105 counties. Polls remained open across the state from 7 a.m. to 7 p.m. local time.

    Johnson County, the state’s most populous which includes the Kansas City area, had perhaps the most notable local race.

    Sheriff Calvin Hayden, seeking a third term, lost the Republican primary to one of his former undersheriffs, Doug Bedford. Hayden received national attention for embracing election conspiracies and keeping an investigation of fraud allegations open at least two years without any criminal charges resulting. In November, Bedford will face Democrat Byron Roberson, a suburban city police chief.

    In the 2nd Congressional District, many Republicans saw Schmidt as the leading candidate even before Trump’s “Complete and Total” social media endorsement, thanks to Schmidt’s name recognition.

    The former president called Schmidt “An America First Patriot” and added, “HE WILL NEVER LET YOU DOWN!”

    Still, Kahrs boasted that Trump chose him to be a regional director at the U.S. Department of Health and Human Services, and was a district director and senior adviser for LaTurner. Kahrs’ campaign touted him as a “conservative warrior.”

    “I’m the only tested conservative in this race,” Kahrs said during a candidate forum broadcast by Topeka-area public television’s KTWU, an event Schmidt skipped.

    Tiffany ran as a political outsider, often donning a cowboy hat during public appearances. In a mid-July forum on WIBW-TV in Topeka, he said the “radical left” has attacked the American dream and that “politicians — career politicians — have done nothing to stand in the gap on our behalf.”

    In the Democratic race, Boyda supported LGBTQ+ rights generally but said she opposes allowing transgender girls and women to play on female sports teams. She also called on President Joe Biden to end his race for reelection the day after his disastrous debate performance, well before other Democrats.

    In a KTWU-TV forum last week, Boyda defended running a center-oriented, “general election” campaign from the start. She pointed to Democrats’ 10 losses in a row since her lone 2006 victory. Eight were by 14 percentage points or more.

    “Quite honestly, a lot of the 2nd District is not going to trust a Democrat going to Washington, D.C.,” she said. “They want to make sure that you are moderate and that you are independent.”

    But Boyda’s stance on transgender athletes drew immediate criticism, with Kansas Young Democrats calling it “disgraceful” on X.

    “I believe that Democrats deserve to have a voice,” Kleinmann, Boyda’s opponent in the primary, said during last week’s forum. “Some of the bravest people I know in Kansas are Democrats in a very red district because they’re fighting for Kansas values, and that’s the values I want to defend in Congress.”

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  • House Republicans cancel planned recess as government shutdown appears more likely

    House Republicans cancel planned recess as government shutdown appears more likely

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    WASHINGTON — House Republican leaders Friday canceled a planned two-week recess as a government shutdown appeared more likely after they failed to pass a short-term spending bill with fewer than two days left to avoid the shutdown.

    House Speaker Kevin McCarthy, R-Calif, informed the GOP caucus of the canceled break at a closed-door meeting after more than 20 Republicans embarrassed him by voting with Democrats to defeat the bill.

    Republicans who joined Democrats voting against the measure included several of McCarthy’s most outspoken antagonists, Rep. Matt Gaetz, of Florida; Reps. Andy Biggs and Eli Crane, of Arizona, and other hardline conservatives.

    Even if the bill had passed, it was doomed to failure in the Senate, where Democrats hold majority control.

    The government is scheduled to shut down at 12:01 a.m. ET Sunday if a funding bill is not approved by both chambers of Congress and signed into law by President Joe Biden.

    The Senate already advanced a bipartisan bill by a wide margin that would fund the government through Nov. 17.

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    Senate Majority Leader Chuck Schumer, D-N.Y., on Friday blasted McCarthy for trying to placate conservatives in his caucus, rather than working with Democrats and moderates on a bill that could pass the Senate.

    “Coddling the hard right is as futile as trying to nail jello to a wall, and the harder the speaker tries, the bigger mess he makes,” Schumer said. “And that mess is going to hurt the American people the most.”

    “I hope the speaker snaps out of the vice grip he’s put himself in and stops succumbing to the 30 or so extremists who are running the show in the House,” Schumer said. “Mr. Speaker, time has almost run out.”

    House Republican leaders advised members that there would be votes Saturday.

    It was unclear what they would be voting on.

    But on Friday evening, McCarthy suggested that his conference might be willing to back a bipartisan bill to fund the government, as long as it did not contain additional emergency funding for Ukraine — a key White House demand with broad support in the Senate.

    “I think if we had a clean [funding bill] without Ukraine on it, we could probably be able to move that through,” McCarthy told reporters as he left the closed door conference meeting.

    Several hours later, McCarthy walked back his apparent willingness to move the Senate bill.

    “After meeting with House Republicans this evening, it’s clear the misguided Senate bill has no path forward and is dead on arrival,” he said around 9:30 p.m. ET. “The House will continue to work around the clock to keep government open and prioritize the needs of the American people.”

    Nonetheless, the notice to members to be ready for Saturday votes had raised hopes among both moderate Republicans and Democrats that McCarthy might agree to hold a vote on a version of the Senate bill to fund the government. Such a bill which would almost certainly pass with broad support from moderate Democrats and moderate Republicans.

    As the clock neared midnight Friday, with just 24 hours remaining before a shutdown, it was difficult to envision what McCarthy could do that would both fund the government and satisfy the conservative critics in his restive caucus,

    The White House condemned House Republicans for engaging in fiscal brinksmanship.

    “We’re doing everything we can to plead, beg, shame House Republicans to do the right thing,” Shalanda Young, director of the White House Office of Management and Budget, told reporters.

    She scoffed at McCarthy’s suggestion that he would refuse his own paycheck during a shutdown.

    “That is theater,” Young said.

    “The guy who picks up the trash in my office won’t get a paycheck. That’s real.”

    The White House said Biden would stay “in dialogue with Congress” over the coming days, but insisted the core elements of any spending bill had been agreed to as part of the debt ceiling deal earlier this year.

    Across Washington on Friday, government agencies prepared their employees and the public for the effects of a shutdown.

    The Smithsonian Institution said it would use existing funds from last year to keep its museums and the National Zoo open for at least the next week.

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  • House Democrats release wave of bank reform bills

    House Democrats release wave of bank reform bills

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    WASHINGTON — House Democrats on Wednesday will release a slate of reform bills in response to the recent bank failures that triggered the worst crisis for the sector since 2008.

    Members of the House Financial Services Committee, led by ranking member Rep. Maxine Waters, D-Calif., are seeking an expansion to federal regulatory authorities and more oversight for bank executives, including clawbacks on compensation, fines and the closure of loopholes that allowed some banks to escape standards established under the 2010 Dodd-Frank Act.

    The committee has closely scrutinized the actions of the Treasury Department, the Federal Deposit Insurance Corporation, or FDIC, and other federal regulators along with executives of Silicon Valley Bank and Signature Bank leading up to and in the aftermath of the banks’ collapse.

    Waters urged committee Republicans to follow the lead of the Senate Banking Committee and work with Democrats to advance bipartisan legislation to protect the economy from future harm.

    “The failures of Silicon Valley Bank, Signature Bank, and First Republic Bank make clear that it is past time for legislation aimed at strengthening the safety and soundness of our banking system and enhancing bank executive accountability,” she said.

    Here are the bills to be considered:

    Failed Bank Executives Accountability and Consequences Act: This bill would expand regulatory authority on compensation clawbacks, fines and banning executives who contribute to a bank’s failure from future work in the industry. President Joe Biden called for these actions shortly after the FDIC took over SVB and Signature Bank in March. The bill is cosponsored by Waters and fellow Democratic Reps. Nydia Velazquez, of New York; Brad Sherman and Juan Vargas, both of California; David Scott, of Georgia; Al Green and Sylvia Garcia of Texas; Emanuel Cleaver, of Missouri; Joyce Beatty and Steven Horsford, both of Ohio; and Rashida Tlaib, of Michigan. Some Republicans have expressed support for this act, which is similar to the bipartisan bill the Senate Banking Committee is considering.

    Incentivizing Safe and Sound Banking Act: This measure would expand regulators’ authority to prohibit stock sales for executives when banks are issued cease-and-desist orders for violating the law. It would also automatically restrict stock sales by senior executives of banks that receive poor exam ratings or are out of compliance with supervisory citations. The bill would have prevented SVB bank executives from cashing out after repeated warnings by regulators, according to Democrats. It is cosponsored by Waters, Velazquez, Sherman, Green, Cleaver, Beatty, Horsford and Tlaib.

    Closing the Enhanced Prudential Standards Loophole Act: This will aim to close loopholes surrounding the Dodd-Frank Act’s enhanced prudential standards for banks that do not have a bank holding company. Neither Signature Bank nor SVB had a bank holding company before they collapsed. The bill would ensure that large banks with a size, complexity and risk equal to that of big banks with holding companies will be subject to similar enhanced capital, liquidity, stress testing, resolution planning and other related requirements. It is cosponsored by Waters, Velazquez, Sherman, Green, Cleaver, Beatty, Vargas, Garcia and Tlaib.

    H.R. 4204, Shielding Community Banks from Systemic Risk Assessments Act: This measure would permanently exempt banks with less than $5 billion in total assets from special assessments the FDIC collects when a systemic risk exception is triggered, which was done to protect depositors at Silicon Valley Bank and Signature Bank. The FDIC would be allowed to set a higher threshold while requiring a minimal impact on banks with between $5 billion and $50 billion in total assets. It is sponsored by Green.

    H.R. 4062, Chief Risk Officer Enforcement and Accountability Act: This measure would have federal regulators require large banks to have a chief risk officer. Banks would also have to notify federal and state regulators of a CRO vacancy within 24 hours and provide a hiring plan within seven days. After 60 days, if the CRO position remains vacant, the bank must notify the public and be subject to an automatic cap on asset growth until the job is filled. The bill is cosponsored by Sherman, Green, and fellow Democratic Reps. Sean Casten, of Illinois; Josh Gottheimer, of New Jersey; Ritchie Torres, of New York; and Wiley Nickel, of North Carolina.

    H.R. 3914, Failing Bank Acquisition Fairness Act: This bill would have the FDIC only consider bids from megabanks with more than 10% of total deposits if no other institutions meet the least-cost test. This would ensure smaller banks have a chance to purchase failed banks, according to Democrats. It is sponsored by Rep. Stephen Lynch, D-Mass.

    H.R. 3992, Effective Bank Regulation Act: This legislation would require regulators to expand stress testing requirements. Instead of two stress test scenarios, the bill would require five. It would also ensure that the Federal Reserve does stress tests for situations when interest rates are rising or falling. It is sponsored by Sherman.

    H.R. 4116, Systemic Risk Authority Transparency Act: This bill would require regulators and the watchdog Government Accountability Office, or GAO, to produce the same kind of post-failure reports that the Federal Reserve, FDIC and GAO did after Silicon Valley Bank’s and Signature Bank’s failure. Initial reports would be required within 60 days and comprehensive reports within 180 days. It would be applicable to any use of the systemic risk exception of the FDIC’s least cost resolution test. The bill is sponsored by Green.

    H.R. 4200, Fostering Accountability in Remuneration Fund Act of 2023, or FAIR Fund Act: The legislation would require big financial institutions to cover fines incurred after a failure and/or executive conduct through a deferred compensation pool that would be funded with a portion of senior executive compensation. The pool would get paid out between two and eight years, depending on the size of the institution. The bill is sponsored by Tlaib.

    Stopping Bonuses for Unsafe and Unsound Banking Act: This measure would freeze bonuses for executives of any large bank that doesn’t submit an acceptable remediation plan for what’s known as a Matter Requiring Immediate Attention, or MRIA, or a similar citation from bank supervisors by a regulator-set deadline. It is sponsored by Brittany Pettersen, D-Colo.

    Bank Safety Act: Large banks would be prevented from opting out of the requirement to recognize Accumulated Other Comprehensive Income, or AOCI, in regulatory capital under this bill. AOCI reflects the kind of unrealized losses in SVB’s securities portfolio. It is sponsored by Sherman.

    Correction: This story was updated to reflect that the bills are being released Wednesday.

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  • Biden 2024 splits Dems but most would back him: AP-NORC poll

    Biden 2024 splits Dems but most would back him: AP-NORC poll

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    WASHINGTON (AP) — Only about half of Democrats think President Joe Biden should run again in 2024, a poll shows, but a large majority say they’d be likely to support him if he became the nominee.

    The poll by The Associated Press-NORC Center for Public Affairs Research shows that 26% of Americans overall want to see Biden run again — a slight recovery from the 22% who said that in January. Forty-seven percent of Democrats say they want him to run, also up slightly from only 37% who said that in January.

    The ambivalence among Democratic voters comes as Biden is preparing to formally announce his 2024 reelection campaign as soon as next week, according to people briefed on the discussions. The president has been eyeing Tuesday, April 25 — four years to the day since he entered the 2020 race — although no final decisions have been made.

    Despite the reluctance of many Democrats to see Biden run for another term, 78% of them say they approve of the job he’s doing as president. And a total of 81% of Democrats say they would at least probably support Biden in a general election if he is the nominee — 41% say they definitely would and 40% say they probably would.

    Interviews with poll respondents suggest that the gap reflects concerns about Biden’s age, as well as a clamoring from a younger generation of Democrats who say they want leadership that reflects their demographic and their values. Biden, now 80, would be 82 on Election Day 2024 and 86 years old at the end of a second presidential term. He is the oldest president in history.

    Jenipher Lagana, 59, said she likes Biden, calling him an “interesting man” who has had an “incredible political career.” She praised Biden for providing a “breath of fresh air” and said she approves of how he’s been doing his job as president.

    But “my problem with him running in 2024 is that he’s just so old,” said Lagana, who is retired and lives in California. “I would love to see somebody younger, like (Transportation Secretary Pete) Buttigieg or (California Gov. Gavin) Newsom be able to get in there and handle things maybe a little differently just because they’re a younger person.”

    Donna Stewart, 48, a program director for a nonprofit in New York, also pointed to Biden’s age as a concern.

    “I voted for him. I like him as a person. I like him as a leader for the country,” she said. “However, I just feel that he’s still lacking the up-to-date knowledge of what needs to be done.”

    During the 2020 presidential campaign, Biden appeared to hint that he would limit himself to just one term in the White House, framing his candidacy as a bridge to a new generation of Democratic leaders. But while in office, Biden has made his intentions clearer that he would run again for a second term, saying as recently as last week in Ireland that he’s “already made that calculus” and that the announcement will happen “relatively soon.”

    With only nominal primary challengers and a chaotic Republican field, the president and his senior aides have felt little pressure to formalize a reelection campaign. Instead, Biden has focused on governing, holding events at the White House and traveling across the country to sell his top legislative achievements such as a bipartisan infrastructure law and a sweeping climate, health care and tax package.

    The president and his senior political advisers are meeting with Democratic donors in Washington next week in an event meant to energize the party’s top contributors ahead of Biden’s expected reelection campaign.

    Biden has also batted away questions about his age, saying that voters simply need to “watch me” to determine whether he’s up to the job as president.

    And while many Democrats remain tepid on Biden because of his age, others said it was actually an asset.

    Stephen Foery, 47, said Biden’s decades in Washington — first in the Senate and then as vice president — proved to be valuable in the first two years of his presidency “because he’s done a lot to fix the country in a very short amount of time.”

    “I think that one of the benefits of living a long life is that you have a lot of wisdom to impart,” said Foery, a creative services manager in Pennsylvania. “If you gain as much experience as Biden has throughout his life, it would be a shame to simply disregard him because of his age.”

    Biden’s job approval rating stands at 42%, a slight improvement from 38% in March. The March poll came after a pair of bank failures rattled an already shaky confidence in the nation’s financial systems, and Biden’s approval rating then was near the lowest point of his presidency. Thirty percent of Americans call the national economy good, a slight improvement from 25% a month ago.

    Younger Democrats remain a reluctant part of Biden’s coalition — just 25% of those under age 45 say they would definitely support Biden in a general election, compared with 56% of older Democrats. Still, an additional 51% of younger Democrats say they would probably vote for Biden in a 2024 general election.

    “It’s really hard to support somebody who is such a career politician, who has a vested interest in maintaining the status quo when the status quo doesn’t work for me,” said Otis Phillips, 20, who lives in Washington state.

    Phillips, a student, said he has been pleased with some of Biden’s initiatives, including his student loan forgiveness program and his focus on climate policy. But he emphasized: “I don’t like maintaining the status quo. And so I want things to change, and I don’t think Biden’s how we’re going to get that in the next four years.”

    Both the current and former president could face resistance from the public as a whole in a general election. A total of 65% of U.S. adults say they would definitely or probably not support former President Donald Trump if he is nominated in a general election, including 53% who say they definitely would not. Biden’s obstacles are smaller by comparison but still substantial: 56% of Americans say they would be unlikely to support Biden in a general election, including 41% who say they would definitely not.

    Biden has long bet that once voters are presented with a binary choice — either him or a Republican candidate, particularly if it is Trump — that a majority of the electorate will side with Democrats. He often quotes his father, Joseph R. Biden Sr., in his public remarks: “Joey, don’t compare me to the Almighty. Compare me to the alternative.”

    “The only reason why I would not want him to run is because of his age. Like, that’s the only thing,” said Shakeen Magee, 45, a self-employed Georgia resident.

    But she said that if Biden does officially become the Democratic nominee in 2024, she would definitely support him “because we can’t take another Trump.” Magee added that “if we were to get another Republican in that office, it would just undo the little progress that Biden has been able to make.”

    ___

    AP White House correspondent Zeke Miller and AP writer Hannah Fingerhut contributed to this report.

    ___

    The poll of 1,230 adults was conducted April 13-17 using a sample drawn from NORC’s probability-based AmeriSpeak Panel, which is designed to be representative of the U.S. population. The margin of sampling error for all respondents is plus or minus 3.9 percentage points.

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  • Biden’s new year pitch focuses on benefits of bipartisanship

    Biden’s new year pitch focuses on benefits of bipartisanship

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    CHRISTIANSTED, U.S. Virgin Islands (AP) — President Joe Biden and top administration officials will open a new year of divided government by fanning out across the country to talk about how the economy is benefiting from his work with Democrats and Republicans.

    As part of the pitch, Biden and Senate Republican leader Mitch McConnell will make a rare joint appearance in McConnell’s home state of Kentucky on Wednesday to highlight nearly $1 trillion in infrastructure spending that lawmakers approved on a bipartisan basis in 2021.

    The Democratic president will also be joined by a bipartisan group of elected officials when he visits the Kentucky side of the Cincinnati area, including Sen. Sherrod Brown, D-Ohio, Democratic Gov. Andy Beshear of Kentucky and Republican Gov. Mike DeWine of Ohio, the White House said.

    Biden’s bipartisanship blitz was announced two days before Republicans retake control of the House from Democrats on Tuesday following GOP gains in the November elections. The shift ends unified political control of Congress by Democrats and complicates Biden’s future legislative agenda. Democrats will remain in charge in the Senate.

    Before he departed Washington for vacation at the end of last year, Biden appealed for less partisanship, saying he hoped everyone will see each other “not as Democrats or Republicans, not as members of ‘Team Red’ or ‘Team Blue,’ but as who we really are, fellow Americans.”

    The president’s trip appeared tied to a recent announcement by Kentucky and Ohio that they will receive more than $1.63 billion in federal grants to help build a new Ohio River bridge near Cincinnati and improve the existing overloaded span there, a heavily used freight route linking the Midwest and the South.

    Congestion at the Brent Spence Bridge on Interstates 75 and 71 has for years been a frustrating bottleneck on a key shipping corridor and a symbol of the nation’s growing infrastructure needs. Officials say the bridge was built in the 1960s to carry around 80,000 vehicles a day but has seen double that traffic load on its narrow lanes, leading the Federal Highway Administration to declare it functionally obsolete.

    The planned project covers about 8 miles (12 kilometers) and includes improvements to the bridge and some connecting roads and construction of a companion span nearby. Both states coordinated to request funding under the nearly $1 trillion bipartisan infrastructure deal signed in 2021 by Biden, who had highlighted the project as the legislation moved through Congress.

    McConnell said the companion bridge “will be one of the bill’s crowning accomplishments.”

    DeWine said both states have been discussing the project for almost two decades “and now, we can finally move beyond the talk and get to work.”

    Officials hope to break ground later this year and complete much of the work by 2029.

    Biden’s visit could also provide a political boost to Beshear, who is seeking reelection this year in his overwhelmingly Republican state.

    In a December 2022 interview with The Associated Press, Beshear gave a mixed review of Biden’s job performance. Biden had joined Beshear to tour tornado- and flood-stricken regions of Kentucky last year.

    “There are things that I think have been done well, and there are things that I wish would have been done better,” Beshear said of Biden.

    Other top administration officials will also help promote Biden’s economic policies this week.

    In Chicago on Wednesday, Vice President Kamala Harris will discuss “how the President’s economic plan is rebuilding our infrastructure, creating good-paying jobs – jobs that don’t require a four-year degree, and revitalizing communities left behind,” the White House said in its announcement.

    Transportation Secretary Pete Buttigieg was delivering the same message in New London, Connecticut, also on Wednesday.

    Mitch Landrieu, the White House official tasked with promoting infrastructure spending, will join soon-to-be former House Speaker Nancy Pelosi on Thursday in San Francisco, which she represents in Congress.

    Biden was scheduled to return to the White House on Monday after spending nearly a week with family on St. Croix in the U.S. Virgin Islands.

    The president opened New Year’s Day on Sunday by watching the first sunrise of 2023 and attending Mass at Holy Cross Catholic Church in Christiansted, where he has attended religious services during his past visits to the island.

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  • Trump’s taxes: Takeaways from release of long-sought returns

    Trump’s taxes: Takeaways from release of long-sought returns

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    In one of its last acts under Democratic control, the House of Representatives on Friday released six years of former President Donald Trump’s tax returns, dating to 2015, the year he announced his presidential bid.

    The thousands of pages of financial documents were the subject of a prolonged legal battle after Trump broke precedent in not releasing his tax returns while running for, and then occupying, the highest office in the land.

    Some takeaways from a review of the documents:

    A BANK ACCOUNT IN CHINA

    The longtime real estate and media mogul with business interests on multiple continents was asked during a 2020 presidential debate about having a bank account in China. He said he closed it before he began his 2016 campaign — a statement his tax returns show was not true.

    “The bank account was in 2013. It was closed in 2015, I believe,” Trump said during the debate. “I was thinking about doing a deal in China. Like millions of other people, I was thinking about it. I decided not to do it.”

    The tax returns, however, report that Trump had a bank account in China in 2015, 2016 and 2017.

    The returns show accounts in other foreign countries over the years, including the United Kingdom, southern Ireland and the Caribbean island nation of St. Martin. By 2018, Trump had apparently closed all his overseas accounts other than the one in the U.K., home to one of his flagship golf properties.

    The returns don’t detail the amount of money held in those accounts.

    ———

    MANY FOREIGN INVESTMENTS

    China is one of several countries where Trump reported making money over the years.

    He reported $38 million in overseas gross income in 2016 and $55 million in 2017, from countries including Azerbaijan, India, Indonesia, Panama, the Philippines, Turkey and the United Arab Emirates.

    This sort of information about potential conflicts of interest for the commander-in-chief of the United States are one reason presidents normally release their tax returns.

    It’s not clear what that overseas money came from. Trump claimed tens of millions of dollars in losses and expenses in his overseas investments as well, but his liabilities there sometimes were greater than those in the U.S. In 2016, for example, Trump told the Internal Revenue Service that he paid $1.2 million in foreign taxes, while he ended up paying only $750 in U.S. income taxes.

    ———

    WORKING THE SYSTEM

    It’s been long known that Trump, like many rich people, has been able to exploit the country’s complex tax code to avoid paying as large a share of his income to the federal government as working families do. When he was pressed on not paying federal taxes in a 2016 debate against Democrat Hillary Clinton, Trump retorted, “That makes me smart.”

    It also highlights the two-tier tax system that allows wealthy people like Trump to take advantage of breaks and loopholes not available to regular households. In 2020, for example, Trump reported owning more than 150 private corporations that claimed losses, sometimes in the millions of dollars. Partly by claiming those losses, Trump reduced his own federal tax income liability to zero that year.

    Some of those losses were real as the coronavirus pandemic battered the economy. But others reflect special deductions that developers like Trump can take on the depreciation of buildings and equipment.

    Some losses Trump claimed may be more questionable — one of the companies he reported owning is called “Unreimbursed expenses.” The Joint Committee on Taxation noted that one of Trump’s firms claimed $438,000 in losses for gift cards redemptions and urged additional investigation of whether the losses were genuine — one of a number of deductions into which the Democratic-controlled committee called for further investigation.

    They’re the sort of deductions the typical American household, which earns $70,000 a year, can’t take.

    ———

    NO REPORTED CHARITABLE GIVING IN 2020

    In the final year of his presidency, Trump reported making no charitable donations.

    That was in contrast to the prior two years, when Trump reported making about $500,000 worth of donations. It’s unclear whether any of the figures include his pledge to donate his $400,000 presidential salary back to the U.S. government.

    Trump, who has bragged of being a billionaire, told The Associated Press in 2015 that he gives “to hundreds of charities and people in need of help.”

    He said, “It is one of the things I most like doing and one of the great reasons to have made a lot of money.”

    He reported larger donations in 2016 and 2017, donating $1.1 million in the year he won the presidency and $1.8 million in his first year in office.

    ———

    MONEY FROM THE ARTS WORLD

    Trump collected a $77,808 annual pension from the Screen Actors Guild, as well as a $6,543 pension in 2017 from another film and TV union, and reported acting residuals as high as $14,141 in 2015, according to the tax returns.

    Trump has made cameo appearances in various movies, notably “Home Alone 2: Lost in New York,” but his biggest on-screen success came with his reality TV shows “The Apprentice” and “The Celebrity Apprentice,” where each episode would end in a boardroom setting with Trump dismissing a contestant with his trademark phrase: “You’re fired!”

    Trump also reported paying a little more than $400,000 from 2015 to 2017 in “book writer” fees. In 2015, Trump published the book, “Crippled America: How to Make America Great Again,” with a ghostwriter.

    In 2015, Trump reporting receiving $750,000 in fees for speaking engagements.

    ———

    TRUMP VOWS PAYBACK

    Trump broke political tradition by not releasing his tax returns as president. Now Republicans warn that Democrats will pay a political price by releasing what is normally confidential tax information.

    Trump himself underscored that in a statement Friday morning after his returns were made public. “The great USA divide will now grow far worse,” Trump said. “The Radical Left Democrats have weaponized everything, but remember, that is a dangerous two-way street!”

    Republicans on the House Ways and Means Committee, which has jurisdiction over tax matters and released the Trump documents, warned that in the future the committee could release the returns of labor leaders or Supreme Court justices. Democrats countered with a proposal to require the release of tax returns by any presidential candidate — legislation that is unlikely to pass, given that Republicans take control of the House next week.

    Notably, the GOP cannot disclose President Joe Biden’s tax returns because they’re already public. Biden resumed the long-standing bipartisan tradition of releasing his tax records, disclosing 22 years’ worth of his filings during his presidential campaign.

    ———

    Associated Press writers Jill Colvin and Michael R. Sisak in New York and Chris Rugaber in Washington contributed to this report.

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  • Biden signs $1.7 trillion bill funding government operations

    Biden signs $1.7 trillion bill funding government operations

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    KINGSHILL, U.S. Virgin Islands (AP) — President Joe Biden on Thursday signed a $1.7 trillion spending bill that will keep the federal government operating through the end of the federal budget year in September 2023, and provide tens of billions of dollars in new aid to Ukraine for its fight against the Russian military.

    Biden had until late Friday to sign the bill to avoid a partial government shutdown.

    The Democratic-controlled House passed the bill 225-201, mostly along party lines, just before Christmas. The House vote came a day after the Senate, also led by Democrats, voted 68-29 to pass the bill with significantly more Republican support.

    Biden had said passage was proof that Republicans and Democrats can work together.

    Rep. Kevin McCarthy, the House Republican leader who hopes to become speaker when a new session Congress opens on Jan. 3, argued during floor debate that the bill spends too much and does too little to curb illegal immigration and the flow of fentanyl into the U.S. from Mexico.

    “This is a monstrosity that is one of the most shameful acts I’ve ever seen in this body,” McCarthy said of the legislation.

    McCarthy is appealing for support from staunch conservatives in the GOP caucus, who have largely blasted the bill for its size and scope. Republicans will have a narrow House majority come Jan. 3 and several conservative members have vowed not to vote for McCarthy to become speaker.

    The funding bill includes a roughly 6% increase in spending for domestic initiatives, to $772.5 billion. Spending on defense programs will increase by about 10%, to $858 billion.

    Passage was achieved hours before financing for federal agencies was set to expire. Lawmakers had approved two short-term spending measures to keep the government operating, and a third, funding the government through Dec. 30, passed last Friday. Biden signed it to ensure services would continue until Congress sent him the full-year measure, called an omnibus bill.

    The massive bill, which topped out at more than 4,000 pages, wraps together 12 appropriations bills, aid to Ukraine and disaster relief for communities recovering from natural disasters. It also contains scores of policy changes that lawmakers worked to include in the final major bill considered by that session of Congress.

    Lawmakers provided roughly $45 billion for Ukraine and NATO allies, more than even Biden had requested, an acknowledgment that future rounds of funding are not guaranteed when Republicans take control of the House next week following the party’s gains in the midterm elections.

    Though support for Ukraine aid has largely been bipartisan, some House Republicans have opposed the spending and argued that the money would be better spent on priorities in the United States.

    McCarthy has warned that Republicans will not write a “blank check” for Ukraine in the future.

    The bill also includes about $40 billion in emergency spending, mostly to help communities across the U.S. as they recover from drought, hurricanes and other natural disasters.

    The White House said it received the bill from Congress late Wednesday afternoon. It was delivered to Biden for his signature by White House staff on a regularly scheduled commercial flight.

    Biden signed the bill Thursday in the U.S. Virgin Islands, where he is spending time with his wife, Jill, and other family members on the island of St. Croix. The Bidens are staying at the home of friends Bill and Connie Neville, the White House said. Bill Neville owns US Viking, maker of ENPS, a news production software system that is sold by The Associated Press.

    Also in the bill are scores of policy changes that are largely unrelated to spending, but lawmakers worked furiously behind the scenes to get the added to the bill, which was the final piece of legislation that came out of that session of Congress. Otherwise, lawmakers sponsoring these changes would have had to start from scratch next year in a politically divided Congress in which Republicans will return to the majority in the House and Democrats will continue to control the Senate.

    One of the most notable examples was a historic revision to federal election law to prevent a future president or presidential candidate from trying to overturn an election.

    The bipartisan overhaul of the Electoral Count Act is a direct response to-then President Donald Trump’s efforts to persuade Republican lawmakers and then-Vice President Mike Pence to object to the certification of Biden’s victory on Jan. 6, 2021, the day of the Trump-inspired insurrection at the Capitol.

    Among the spending increases Democrats emphasized: a $500 increase in the maximum size of Pell grants for low-income college students, a $100 million increase in block grants to states for substance abuse prevention and treatment programs, a 22% increase in spending on veterans’ medical care and $3.7 billion in emergency relief to farmers and ranchers hit by natural disasters.

    The bill also provides roughly $15.3 billion for more than 7,200 projects that lawmakers sought for their home states and districts. Under revamped rules for community project funding, also referred to as earmarks, lawmakers must post their requests online and attest they have no financial interest in the projects. Still, many fiscal conservatives criticize the earmarking as leading to unnecessary spending.

    ___

    Associated Press writer Kevin Freking in Washington contributed to this report.

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  • Trump’s tax returns to be released Friday after long fight

    Trump’s tax returns to be released Friday after long fight

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    A House committee is set to release six years of Donald Trump’s tax returns on Friday, pulling back the curtain on financial records that the former president fought for years to keep secret.

    The Democratic-controlled House Ways and Means Committee voted last week to release the returns, with some redactions of sensitive information, such as Social Security numbers and contact information. Their dissemination comes in the waning days of Democrats’ control of the House and as Trump’s fellow Republicans prepare to retake power in the chamber.

    The committee obtained six years of Trump’s personal and business tax records, from 2015 to 2020, while investigating what it said in a Dec. 20 report was the Internal Revenue Service’s failure to pursue mandatory audits of Trump on a timely basis during his presidency, as required under the tax agency’s protocol.

    The release raises the potential of new revelations about Trump’s finances, which have been shrouded in mystery and intrigue since his days as an up-and-coming Manhattan real estate developer in the 1980s. The returns could take on added significance now that Trump has launched a third campaign for the White House.

    Trump’s tax returns are likely to offer the clearest picture yet of his finances during his time in office.

    Trump, known for building skyscrapers and hosting a reality TV show before winning the White House, broke political norms by refusing to make public his returns as he sought the presidency — though he did give some limited details about his holdings and income on mandatory disclosure forms.

    Instead, Trump has touted his wealth in the annual financial statements he gives to banks to secure loans and to financial magazines to justify his place on rankings of the world’s billionaires.

    Trump’s longtime accounting firm has since disavowed the statements, and New York Attorney General Letitia James has filed a lawsuit alleging Trump and his Trump Organization inflated asset values on the statements as part of a yearslong fraud. Trump and his company have denied wrongdoing.

    It will not be the first time Trump’s tax returns have been under scrutiny. In October 2018, The New York Times published a Pulitzer Prize-winning series based on leaked tax records that showed that Trump received a modern-day equivalent of at least $413 million from his father’s real estate holdings, with much of that money coming from what the Times called “tax dodges” in the 1990s.

    A second series in 2020 showed that Trump paid just $750 in federal income taxes in 2017 and 2018, as well as no income taxes at all in 10 of the past 15 years because he generally lost more money than he made.

    In its report last week, the Ways and Means Committee indicated the Trump administration may have disregarded a post-Watergate requirement mandating audits of a president’s tax filings.

    The IRS only began to audit Trump’s 2016 tax filings on April 3, 2019 — more than two years into his presidency — when Ways and Means chair Rep. Richard Neal, D-Mass., asked the agency for information related to the tax returns.

    By comparison, there were audits of President Joe Biden for the 2020 and 2021 tax years, said Andrew Bates, a White House spokesperson. A spokesperson for former President Barack Obama said Obama was audited in each of his eight years in office.

    An accompanying report from Congress’ nonpartisan Joint Committee on Taxation raised multiple red flags about aspects of Trump’s tax filings, including his carryover losses, deductions tied to conservation and charitable donations, and loans to his children that could be taxable gifts.

    The House passed a bill in response that would require audits of any president’s income tax filings. Republicans strongly opposed the legislation, raising concerns that a law requiring audits would infringe on taxpayer privacy and could lead to audits being weaponized for political gain.

    Republicans have argued that Democrats will regret the move once Republicans take power in January, and they warn that the committee’s new GOP chair will be under pressure to seek and make public the tax returns of other prominent people.

    The measure, approved mostly along party lines, has little chance of becoming law in the final days of this Congress. Rather, it is seen as a starting point for future efforts to bolster oversight of the presidency.

    Every president and major-party candidate since Richard Nixon has voluntarily made at least summaries of their tax information available to the public. Trump bucked that trend as a candidate and as president, repeatedly asserting that his taxes were “under audit” and couldn’t be released.

    Trump’s lawyers were repeatedly denied in their quest to keep his tax returns from the Ways and Means Committee. A three-judge federal appeals court panel in August upheld a lower-court ruling granting the committee access.

    Trump’s lawyers also tried and failed to block the Manhattan district attorney’s office from getting Trump’s tax records as part of its investigation into his business practices, losing twice in the Supreme Court.

    Trump’s longtime accountant, Donald Bender, testified at the Trump Organization’s recent Manhattan criminal trial that Trump reported losses on his tax returns every year for a decade, including nearly $700 million in 2009 and $200 million in 2010.

    Bender, a partner at Mazars USA LLP who spent years preparing Trump’s personal tax returns, said Trump’s reported losses from 2009 to 2018 included net operating losses from some of the many businesses he owns through the Trump Organization.

    The Trump Organization was convicted earlier this month on tax fraud charges for helping some executives dodge taxes on company-paid perks such as apartments and luxury cars.

    ———

    Associated Press writer Paul Wiseman in Washington contributed to this report.

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  • Biden administration proposes crackdown on scam Medicare ads

    Biden administration proposes crackdown on scam Medicare ads

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    The Biden administration has proposed a ban on misleading ads for Medicare Advantage plans that have targeted older Americans and, in some cases, convinced them to sign up for plans that don’t cover their doctors or prescriptions

    WASHINGTON — The Biden administration on Wednesday proposed a ban on misleading ads for Medicare Advantage plans that have targeted older Americans and, in some cases, convinced them to sign up for plans that don’t cover their doctors or prescriptions.

    The rule, proposed by the Centers for Medicare and Medicaid Services, would ban ads that market Medicare Advantage plans with confusing words, imagery or logos. The new regulation would also prohibit ads that don’t specifically mention a health insurance plan by name.

    It’s an aggressive step to tackle a growing problem in the Medicare Advantage marketplace, a booming business that offers privately run versions of the government’s Medicare program for people who are 65 and older or have disabilities. Nearly half of all Medicare enrollees — about 28 million — are now turning to Medicare Advantage plans.

    And some have been deceived by television commercials, online ads and mailers put out by the marketing agencies and brokers that some insurers have hired to win over customers.

    The proposed rule “takes important steps to hold Medicare Advantage plans accountable for providing high quality coverage and care to enrollees,” said agency Administrator Chiquita Brooks-LaSure in a statement.

    The problem has become so pervasive that CMS agents have been secretly shopping for plans by calling the phone numbers in advertisements, finding in some cases that brokers have overstated the benefits that enrollees would get and the money they would save in the new plans. Democrats on the Senate Finance Committee released an investigative report last month showing that several states also reported an increase in complaints about deceptive marketing schemes in 2021.

    The committee’s investigation found that older adults in Ohio, for example, were sent mailers resembling federal government tax forms promising bigger Social Security checks if they enrolled in a new Medicare Advantage plan. Nationwide TV commercials featuring celebrities have also misled some customers by telling viewers they’ll get “money back to your Social Security check” but fail to mention that the plans they’re selling vary by ZIP code or don’t cover all providers.

    “These proposals are an important step towards protecting seniors in Medicare from scammers and unscrupulous insurance companies and brokers,” the committee chairman, Sen. Ron Wyden, D-Ore., said in a statement on Wednesday.

    The federal agency on Wednesday also proposed regulations that would establish new wait-time standards for mental health providers that are in-network for Medicare Advantage plans. The standards would recommend that enrollees be able to access mental health care appointments within 10 days.

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  • Lawmakers announce ‘framework’ on bill to keep gov’t open

    Lawmakers announce ‘framework’ on bill to keep gov’t open

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    WASHINGTON — Lawmakers leading the negotiations on a bill to fund the federal government for the current fiscal year announced late Tuesday they’ve reached agreement on a “framework” that should allow them to complete work on the bill over the next week and avoid a government shutdown.

    Congress faces a midnight Friday deadline to pass a spending bill to prevent a partial government shutdown. The two chambers are expected to pass another short-term measure before then to keep the government running through Dec. 23, which will allow negotiators time to complete work on the full-year bill.

    “Now, the House and Senate Appropriations Committees will work around the clock to negotiate the details of final 2023 spending bills that can be supported by the House and Senate and receive President Biden’s signature,” said Rep. Rosa DeLauro of Connecticut, the Democratic chair of the House Appropriations Committee.

    Earlier in the day, Senate leaders said lawmakers from the two parties were nearing an agreement, but Republicans warned Democrats that lawmakers would need to complete their work by Dec. 22 or they would only support a short-term extension into early next year. That would give House Republicans more leverage over what’s in the legislation, since they will be in the majority then.

    “We intend to be on the road going home on the 23rd. We intend not to be back here between Christmas and New Year’s, and if we can’t meet that deadline, we would be happy to pass a short-term (resolution) into early next year,” said Sen. Mitch McConnell of Kentucky, the Republican leader in the Senate.

    McConnell voiced confidence Republicans would be able to meet their priorities of increasing spending on defense without “having to pay a bonus above what President Biden asked for” on non-defense priorities. He said Democrats were willing to accept that because they had previously passed two bills on a party-line basis that allow for more government spending on various domestic priorities.

    Sen. Richard Shelby, R-Ala., said last week that the two parties were about $25 billion apart in what is expected to be about a $1.65 trillion package, not including mandatory spending on programs such as Social Security and Medicare. However, Democrats in their statements did not indicate what topline spending number had been reached in the framework announced Tuesday.

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  • EXPLAINER: What Sinema’s switch means for the Senate

    EXPLAINER: What Sinema’s switch means for the Senate

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    WASHINGTON (AP) — Arizona Sen. Kyrsten Sinema’s switch from Democrat to independent won’t change the balance of power in the Senate. But it could affect her political fortunes back home.

    Sinema says she won’t caucus with Senate Republicans, so Democrats will still hold the majority next year. And she is expected to continue casting most of her votes with Democrats while separating herself on certain issues.

    “Nothing’s going to change for me,” Sinema declared in a video announcing her decision.

    A look at what Sinema’s decision means:

    WHAT IT MEANS FOR THE SENATE

    Not much. Democrats will still be in charge, and day to day operations won’t change for Majority Leader Chuck Schumer. Sinema is still holding her Democratic committee assignments, meaning she can’t upend the party structure too much.

    It is unclear exactly what the Senate’s party balance will be, and whether she will still caucus with Democrats – meaning she would be counted as one of their ranks. If she does, Democrats will have a 51-49 majority. If she doesn’t, the balance would be 50-49, with Sinema voting as an independent. Either way, Democrats will have a majority.

    “We will maintain our new majority on committees, exercise our subpoena power and be able to clear nominees without discharge votes,” Schumer said in a statement on Sinema’s decision.

    WHAT IT MEANS FOR THE DEMOCRATIC AGENDA

    Again, it’s unlikely that Sinema’s move will change the party’s path forward, especially now that Republicans will be in the House majority, and little legislation will move through Congress.

    Sinema has always voted in an independent manner – championing some party priorities such as same-sex marriage, which she was instrumental in negotiating before Senate passage last week, and opposing others such as a minimum wage increase. She and Sen. Joe Manchin, D-W.V., helped water down much of President Joe Biden’s social spending agenda in the first two years of his presidency.

    She has generally voted for Biden’s executive and judicial nominations, as well.

    WHAT IT MEANS FOR SINEMA

    What it means for Sinema in Arizona is a trickier question.

    Democrats are likely to put up a new candidate and put her in a three-way race for reelection in 2024, if she decides to run again. Voters will decide if they like her independent style, modeled after the late Sen. John McCain, or if they would prefer a partisan on the right or left.

    “My approach is rare in Washington, and has upset partisans in both parties,” she said.

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  • Republicans take control of the House, NBC News projects

    Republicans take control of the House, NBC News projects

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    House Minority Leader Kevin McCarthy (R-CA) talks to reporters during his weekly news conference in the U.S. Capitol Visitors Center on March 18, 2022 in Washington, DC.

    Chip Somodevilla | Getty Images News | Getty Images

    Republicans will take majority control of the House, NBC News projects, ousting Democrats from key positions of power and complicating President Joe Biden‘s legislative hopes for the remainder of his term.

    With the Senate staying in Democrats’ hands, congressional leadership will be divided for at least the next two years.

    The outcome in the House was expected, but it didn’t happen in the way Republicans hoped it would. Democrats broadly exceeded many analysts’ expectations, dashing GOP hopes of a “red wave” that would not only net them a sweeping House majority but provide a symbolic repudiation of Democratic leadership.

    Instead, Republicans are projected to take a slim lead in the House — 221-214, according to NBC’s estimate based on the handful of races that have yet to be called. The GOP’s win in the lower chamber of Congress only became clear more than a week after Election Day.

    The results widened a rift within the party, as some conservatives quickly blamed their losses in winnable races on former President Donald Trump‘s influence over the quality and messaging of key candidates. Nearly all of Trump’s picks in the most competitive House races were defeated, as were many of his preferred candidates for Senate and in key gubernatorial and secretary of state elections.

    Trump has defended his endorsement record while lashing out at his critics, including multiple Republican leaders. Despite his weakened standing in the Republican Party, Trump on Tuesday night launched his 2024 presidential campaign.

    One day before NBC’s projection, House Minority Leader Kevin McCarthy, R-Calif., won a party vote to become the GOP nominee for speaker of the House. McCarthy won in a 188-31 vote, NBC reported, signaling that the narrow Republican majority in the next Congress may grapple with internal divisions. To become speaker, McCarthy needs at least 218 votes — a majority of the chamber — when the full House votes in early January.

    Democrats’ performance cut against a persistent narrative that the party was vulnerable due to a range of factors, including Biden’s unpopularity and historical trends that disfavor the party in the White House.

    But it wasn’t enough for Democrats to keep their grip on a narrow House majority. GOP candidates up and down the ballot sought to capitalize on widespread anxieties about crime and inflation, which ranked as top issues throughout the cycle and formed the basis of many attacks on Democratic leadership in Congress and the White House.

    Biden’s low approval ratings hardly helped Democrats in tough House and Senate races, forcing some to distance themselves from the administration.

    While Democrats overcame political headwinds in major swing states, they faltered in the solid-blue stronghold of New York, where Republicans performed stronger than some analysts expected. Democratic Congressional Campaign Committee Chairman Rep. Sean Patrick Maloney, who came under fire from his own party after a messy New York redistricting fight, lost his race and ceded his seat to GOP challenger Mike Lawler.

    Biden said in a statement Wednesday evening, “Last week’s elections demonstrated the strength and resilience of American democracy.”

    “There was a strong rejection of election deniers, political violence, and intimidation. There was an emphatic statement that, in America, the will of the people prevails,” Biden said.

    The president congratulated McCarthy and expressed a willingness to work across the aisle. “The American people want us to get things done for them. They want us to focus on the issues that matter to them and on making their lives better,” Biden said. “And I will work with anyone – Republican or Democrat – willing to work with me to deliver results for them.”

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  • Democrats will keep control of the Senate, NBC News projects

    Democrats will keep control of the Senate, NBC News projects

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    Senate Majority Leader Chuck Schumer (D-NY) gestures, walking out of the Senate Chamber, celebrating the passage of the Inflation Reduct Act at the U.S. Capitol on Sunday, Aug. 7, 2022 in Washington, DC. T

    Kent Nishimura | Los Angeles Times | Getty Images

    Democrats will hold their razor-thin majority in the U.S. Senate, NBC News projects, staving off a full-bore effort by Republicans to leverage economic volatility and public discontent into control of the upper chamber of Congress.

    The party will hold at least 50 seats in the Senate in the next Congress, after incumbents held their ground in key races and Democratic Lt. Gov. John Fetterman flipped Pennsylvania’s GOP-held seat. One uncalled race, where Democratic Sen. Raphael Warnock of Georgia is defending his seat against Republican Herschel Walker, will be decided in a Dec. 6 runoff. Democrats currently control the Senate split 50-50 by party through Vice President Kamala Harris’ tiebreaking vote.

    While the GOP held some key advantages over Democrats throughout the cycle, analysts considered the battle for the Senate to be a virtual toss-up heading into Election Day. Incumbent Sens. Mark Kelly of Arizona and Catherine Cortez Masto of Nevada both prevailed in their closely contested races, NBC projected after days of counting in both states, clinching the chamber for Democrats.

    In a tweet, Senate Majority Leader Chuck Schumer called the election results “a victory and vindication for Democrats.”

    Republicans had hoped, and many had openly anticipated, a “red wave” that would wash Democrats out of their majorities in both branches of the legislature. A flip in congressional leadership would have threatened President Joe Biden‘s legislative agenda and his ability to advance key nominations for his next two years in office.

    But that wave never materialized. Democratic candidates up and down the ballot outperformed expectations from many analysts who predicted that Biden’s unpopularity, coupled with historical electoral trends and persistently high inflation, could yield a rout for the party in power.

    Senate Democrats will instead hold their majority — and could even add to it if Warnock defeats Walker. It gives the party another check against the GOP if Republicans flip control of the House.

    NBC News has not yet projected House control as states continue to count votes in tight races.

    NBC estimates Republicans could win 219 House seats once all uncalled races are settled — barely enough for a majority — while Democrats could win 216. The projection carries a margin of error of plus-or-minus four seats.

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  • Mark Kelly wins Arizona Senate race, bringing Democrats one seat away from majority, NBC News projects

    Mark Kelly wins Arizona Senate race, bringing Democrats one seat away from majority, NBC News projects

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    U.S. Sen. Mark Kelly (D-AZ) and his wife former Congresswoman Gabby Giffords, daughters Charlotte, Samantha and son in law Mark Sudman wave during his election night rally at the Rialto Theatre on November 08, 2022 in Tucson, Arizona.

    Kevin Dietsch | Getty Images

    Democratic Sen. Mark Kelly will hold on to his U.S. Senate seat in Arizona, pushing Democrats closer to retaining control of the Senate, NBC News projected.

    Kelly was leading Republican candidate Blake Masters, who was former President Donald Trump’s pick in the key swing state, by almost six percentage points with 85% of the votes in as of Friday night. With Kelly’s win, Democrats need just one of the two seats in Nevada or Georgia that haven’t been called yet.

    In Nevada, Republican candidate Adam Laxalt was ahead by 1 percentage point with 88% of the votes counted as of Friday morning. Georgia’s Senate race is headed to a runoff election on Dec. 6 between GOP candidate Herschel Walker and incumbent Sen. Raphael Warnock, who was leading by more than a percentage point.

    Kelly raised and spent vastly more than venture capitalist Masters, bringing in over $81.8 million and spending over $75.9 million through mid-October. Masters, by comparison, raised $12.3 million and spent just $9.7 million over the same time frame, according to data compiled by the Federal Election Commission.

    The Arizona Democrat campaigned on a platform of bipartisanship and promoted his willingness to work across the aisle with Republicans. He was elected to the Senate in 2020 to finish the term of Republican Sen. John McCain, who died of an aggressive form of brain cancer.

    Kelly recently distanced his stance on immigration from the Biden administration when he came out against the decision to end Title 42. The policy, which began during the Trump administration, prevented migrants from entering the country due to Covid.

    The Arizona Democrat has also pushed hard for border security. He recently referred to the influx of migrants at the southern border as “a mess” during a debate.

    “When the president decided he was going to do something dumb on this and change the rules that would create a bigger crisis, I told him he was wrong. So I pushed back on this administration multiple times,” Kelly said in October.

    But Kelly was also a chief negotiator in the CHIPS and Science Act, a key component of President Joe Biden’s economic policies that was signed into law in August.

    A former NASA astronaut and Navy pilot, Kelly is married to former U.S. Rep. Gabrielle Giffords, who survived a gunshot wound to the head in 2011.

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  • DeSantis to continue migrant flights to Democratic states

    DeSantis to continue migrant flights to Democratic states

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    TALLAHASSEE, Fla. — Republican Florida Gov. Ron DeSantis’ administration plans to continue flying migrants who entered the country illegally to Democratic strongholds, his spokeswoman said Saturday, a day after newly released records showed the state paid nearly $1 million to arrange two sets of flights to Delaware and Illinois.

    Documents released Friday show that the two sets of planned flights will transport about 100 migrants to those two states. They were scheduled to happen before Oct. 3 but apparently were halted or postponed. The contractor hired by Florida later extended the window for the trips until Dec. 1, according to memos released by the state Department of Transportation.

    When asked why they flights were postponed, DeSantis’ communications director, Taryn Fenske, noted that Florida has been busy dealing with the aftermath of Hurricane Ian.

    “While Florida has had all hands on deck responding to our catastrophic hurricane, the immigration relocation program remains active,” Fenske said in an email Saturday.

    The flights would be a follow-up to the Sept. 14 flights from Texas to Martha’s Vineyard, Massachusetts, that carried 49 mostly Venezuelan migrants to the island where former President Barack Obama owns a home. Local officials weren’t told in advance that the migrants were coming.

    DeSantis claimed responsibility for the flights as part of a campaign to focus attention on what he has called the Biden administration’s failed border policies. He was joining Republican Texas Gov. Greg Abbott in the tactic of sending migrants to Democratic strongholds without advance warning.

    Earlier this year, the Florida Legislature approved a $12 million budget item to relocate people in the country illegally from Florida to another location. The money came from interest earned from federal funds given to Florida under the American Rescue Plan. While the migrant flights to Martha’s Vineyard originated in Texas, the charter plane carrying them made a stop in Florida. DeSantis has said that the migrants’ intention was to come to Florida.

    The documents released Friday gave no details of how migrants were recruited in San Antonio for the Martha Vineyard flights or who was hired to conduct that part of the operation.

    The Martha’s Vineyard flight has also spawned lawsuits accusing Florida of lying to the migrants to get them to agree to the flights.

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